Trump Mentions TikTok Agreement Remains ‘on the table’
The US president previously indicated that an agreement was near, but China withdrew after Washington increased its tariffs. US President Donald Trump remains hopeful about finalizing a deal for the sale of TikTok’s US operations to American...
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The US president previously indicated that an agreement was near, but China withdrew after Washington increased its tariffs.
US President Donald Trump remains hopeful about finalizing a deal for the sale of TikTok’s US operations to American investors, despite rising tariffs on imports from China.
TikTok, the widely-used short-form video app owned by the Chinese tech firm ByteDance, has come under scrutiny from US lawmakers due to national security concerns. In a discussion with reporters in the Oval Office on Wednesday, Trump mentioned that an agreement is “very much on the table."
This week, the US officially enforced heightened tariffs on Chinese imports, reaching the highest rate observed in the ongoing trade conflict. To ease pressures with other trading nations, Trump announced a 90-day suspension of reciprocal tariffs for 185 countries, temporarily reducing them to 10%. However, tariffs on Chinese goods are still set at an elevated 125%. In retaliation, China has raised tariffs on US imports to 84% and has blacklisted 11 American companies, exacerbating the trade tensions.
“Obviously, I would say right now China is not exactly thrilled about signing it,” Trump stated. “We have a deal with some very good people, some very rich companies that would do a great job with it, but we’re going to have to wait and see what’s going to happen with China,” he added. “It’s on the table very much. I think China’s going to want to do it, actually.”
Last week, Trump noted that China could be hesitant to proceed with the TikTok agreement due to the recent tariff hikes. He proposed that a reduction in tariffs could speed up the deal's approval, claiming China would agree “in 15 minutes” if such concessions were made. The suggested plan would reportedly reorganize TikTok’s US operations into a new company based in America, with a majority ownership and control by US investors.
On Friday, Trump signed an executive order that grants TikTok a 75-day extension to find a US-based buyer, postponing the potential ban. This extension represents the second delay for TikTok’s divest-or-ban deadline, originally scheduled for April 5. The first extension was authorized when Trump assumed office in January.
Democratic Senators Mark Warner and Ed Markey have criticized the extension, arguing that Trump lacks the legal authority to approve it. On Wednesday, Markey attempted to introduce a bill to push the deadline to October, but the effort was blocked.
China has asserted that any agreement regarding TikTok must adhere to its laws, stating its opposition to actions that infringe upon market principles and harm legitimate business interests.
Sophie Wagner for TROIB News
US President Donald Trump remains hopeful about finalizing a deal for the sale of TikTok’s US operations to American investors, despite rising tariffs on imports from China.
TikTok, the widely-used short-form video app owned by the Chinese tech firm ByteDance, has come under scrutiny from US lawmakers due to national security concerns. In a discussion with reporters in the Oval Office on Wednesday, Trump mentioned that an agreement is “very much on the table."
This week, the US officially enforced heightened tariffs on Chinese imports, reaching the highest rate observed in the ongoing trade conflict. To ease pressures with other trading nations, Trump announced a 90-day suspension of reciprocal tariffs for 185 countries, temporarily reducing them to 10%. However, tariffs on Chinese goods are still set at an elevated 125%. In retaliation, China has raised tariffs on US imports to 84% and has blacklisted 11 American companies, exacerbating the trade tensions.
“Obviously, I would say right now China is not exactly thrilled about signing it,” Trump stated. “We have a deal with some very good people, some very rich companies that would do a great job with it, but we’re going to have to wait and see what’s going to happen with China,” he added. “It’s on the table very much. I think China’s going to want to do it, actually.”
Last week, Trump noted that China could be hesitant to proceed with the TikTok agreement due to the recent tariff hikes. He proposed that a reduction in tariffs could speed up the deal's approval, claiming China would agree “in 15 minutes” if such concessions were made. The suggested plan would reportedly reorganize TikTok’s US operations into a new company based in America, with a majority ownership and control by US investors.
On Friday, Trump signed an executive order that grants TikTok a 75-day extension to find a US-based buyer, postponing the potential ban. This extension represents the second delay for TikTok’s divest-or-ban deadline, originally scheduled for April 5. The first extension was authorized when Trump assumed office in January.
Democratic Senators Mark Warner and Ed Markey have criticized the extension, arguing that Trump lacks the legal authority to approve it. On Wednesday, Markey attempted to introduce a bill to push the deadline to October, but the effort was blocked.
China has asserted that any agreement regarding TikTok must adhere to its laws, stating its opposition to actions that infringe upon market principles and harm legitimate business interests.
Sophie Wagner for TROIB News
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